Clay secures fresh funding at a $3 billion valuation, according to sources, marking a major milestone for the fast-growing productivity startup
According to three sources with knowledge of the transaction, CapitalG has led a Series C round of funding for Clay, a sales automation startup, at an estimated $3 billion valuation.
Clay and CapitalG did not respond to a request for comment.
The startup in New York has recently announced that it will permit most of its employees to sell a portion of their shares at a $1.5 billion valuation. This new round of funding was announced just one month ago.
Sequoia headed that secondary transaction, which was referred to as a tender offer. Sequoia consented to acquire employee stock of up to $20 million.
Even though it may appear that employees who sold shares at a significantly lower price than the company’s current value received a poor bargain, they will likely have another opportunity to sell additional stock at a higher valuation next year.
In May, Kareem Amin, the CEO and co-founder of Clay, shared with TechCrunch his intention to conduct tender offers annually.
Clay was established in 2017 but did not reach its full potential until a few years ago when Amin shifted its focus to empowering salespeople and marketers with AI. This shift facilitated the discovery of critical data and the automation of their go-to-market strategies.
Salespeople can locate and update prospective customer lists and compose personalized outreach emails within Clay.
Today, Clay’s tools are utilized by thousands of customers, including large corporations such as OpenAI, HubSpot, and Canva, as well as over 100 small consulting agencies that assist other businesses in using Clay for their go-to-market initiatives.
In addition to contemporary offerings such as Unify and Common Room, the company competes with sales technology platforms such as Apollo.io, Lusha, and ZoomInfo.
Clay’s current investors include Meritech Capital, Boldstart Ventures, Maple VC, First Round Capital, and Box Group, in addition to Sequoia.
